A BANKRUPTCY CASE.

New Zealand Times, Volume LI, Issue 9138, 8 November 1890, Page 3

A BANKRUPTCY CASE.

(per press association.) Gisborne, November 7Afc Graham, Pitt, and Bennett’s bankruptcy meeting to-day, Mr Bennett said they commenced to get Into difficulties in May Inst owing to business foiling off, and the difficulty of getting money In. Trustees were rppolnted prior to the bankruptcy, and they received an offer of 10s Gd in the pound. On being examined Mr Bennett said be had supplied the Union Bank and Stewart McDonald, the largest creditors, with balance-sheets in October, 188 D, and April last* In April bo supplied statements showing £9OOO to credit; four months after another showing £IOOO to the bad. Hia statement did not correspond with the firm's annual balance-sheet made at that time* but he compiled it himself from the books, and did not know why it differed, and could not say why he did not furnish a copy of the annual balance-sheet made by an accountant instead of bis own balance-sheet* He reckoned that the statement be gave was the actual position of the firm* Mr Dunlop, aa accountant, deposed that tha balance-sheet made by him showed £9OOO stock, whilst Mr Bennett’s statement showed £12,000 The book debts by him showed £4OOO, and by Mr Bennett £O7OO. Mr Bennett’s statement could not been taken from the books by anyone with a knowledge of bookkeeping. The meeting adjourned till Wednesday, to allow the outside creditors to be represented.